Gold Spot bottomed exactly at first support at 1895/1890.
Silver Spot up one day, down the next day in the sideways trend for 2 weeks. Same levels apply for today.
WTI Crude JULY Future we wrote: beat 6450/6480 for a buy signal targeting the 500 week moving average at 6585/6605. Bulls need to beat this week’s high at 6650 for a retest of the May high at 6690/6700.
All these targets have been hit.
Today’s Analysis
Gold holding first support at 1895/1890 is a buy signal targeting 1920/25 and 1937/40.
Try longs at 1895/1890 with stop below 1885. The downside should be limited in the bull trend but further losses target 1880/78, perhaps as far as support at 1859/56.
Silver holding first support at 2760/50 targets minor resistance at 2800/05 and 2820/25. Further gains target resistance at 2870/75. Above here can target 2905/10 and 2970/80.
First support at 2760/50. Below 2740 however targets 2725/20, perhaps as far as support at 2695/85.
WTI Crude beat 6450/6480 for a buy signal and now making a break above the May high at 6690/6700 to target the 2021 high at 6790/99. Next target is 6840/50.
Strong support at 6640/20. Longs need stops below 6580.
Disclaimer: No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realised. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.